J. Safra Sarasin Holding AG Sells 5,235 Shares of Synopsys, Inc. (NASDAQ:SNPS)

J. Safra Sarasin Holding AG lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,273 shares of the semiconductor company's stock after selling 5,235 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Synopsys were worth $24,401,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SNPS. State of Tennessee Department of Treasury increased its position in shares of Synopsys by 36.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 48,787 shares of the semiconductor company's stock valued at $23,679,000 after buying an additional 13,092 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Synopsys by 23.7% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 38,611 shares of the semiconductor company's stock worth $18,740,000 after purchasing an additional 7,401 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Synopsys by 33.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,501 shares of the semiconductor company's stock worth $6,067,000 after buying an additional 3,131 shares during the last quarter. Seaview Investment Managers LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $222,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Synopsys by 516.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 154 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 3.9 %

Shares of NASDAQ:SNPS traded up $16.67 during midday trading on Thursday, hitting $438.90. The stock had a trading volume of 1,092,462 shares, compared to its average volume of 1,087,104. The company's 50-day moving average price is $439.90 and its 200-day moving average price is $493.36. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The company has a market capitalization of $67.86 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SNPS shares. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Bank of America cut their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $618.31.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.